The Board and management of the Company, as well as companies
affiliated with them, intend to exercise warrants corresponding to
approximately 27 percent of the outstanding warrants of series TO7
in Terranet AB
Terranet AB (publ) (”Terranet” or the
"Company") hereby announces the Board and management of the
Company, as well as companies affiliated with them, intend to
exercise their warrants of series TO7, an investment of
approximately SEK 3.6 million, corresponding to approximately 27
percent of the total amount of outstanding warrants of series TO7.
The subscription period for the warrants of series TO7 is currently
ongoing and will continue up until June 3, 2024.
The Board and management of the Company,
as well as companies affiliated with them, intend to exercise their
warrants of series TO7 as detailed below:
Name |
Position |
Subscribed amount, number of TO7 |
Subscribed amount, SEK |
Maida Vale Capital AB |
Major shareholder |
47,358,858 |
3,457,197 |
Magnus Andersson |
CEO |
833,331 |
60,833 |
Anders Blom |
Member of the Board |
520,000 |
37,960 |
Torgny Hellström |
Chairman of the Board |
333,333 |
24,333 |
Total |
|
49,045,522 |
3,580,323 |
The subscription of warrants of series TO7 will
on Maida Vale’s part result in a significant increase of the
company’s ownership stake in Terranet.
Combined, the Board and management of the
Company, as well as companies affiliated with them, intend to
exercise 49,045,522 warrants of series TO7, corresponding to a
total of SEK 3.6 million.
If all the warrants of series TO7 are exercised,
the Company will receive approximately SEK 13.3 million before
issuing costs. To prevent the warrants expiring without value, the
holder must actively subscribe for new shares, no later than June
3, 2024. Please be aware that certain nominees may close their
application earlier than June 3, 2024. Complete terms and
conditions for the warrants are available at the Company’s website,
www.terranet.se/en.
Summarized terms for the warrants of
series TO7:
Subscription period: May 20, 2024 – June 3,
2024.
Issue size: 182,664,660 warrants of series TO7,
which entitles to subscription of 182,664,660 B-shares. If all
warrants are exercised, the Company will receive approximately SEK
13.3 million before issuing costs.
Exercise price: SEK 0.073 per B-share.
Last day for trading warrants of series TO7: May
29, 2024.
Share capital and dilution: If all warrants are
exercised the share capital will increase with SEK 1,826,646.6,
from SEK 8,980,030.07 to SEK 10,806,676.67. If all warrants are
exercised the number of shares in the Company will increase with
182,664,660 B-shares, from 898,003,007 shares (divided into
1,083,063 A-shares and 896,919,944 B-shares), to 1,080,667,667
shares. If all warrants of series TO7 are exercised, the dilution
will amount to approximately 17 percent of the number of shares in
the Company.
Please be advised: The invested amount must be
rounded up to two decimal places.
Please note that warrants that are not
exercised no later than June 3, 2024, or sold no later than May 29,
2024, will expire without value. For warrants not to lose their
value, the holder must actively subscribe for new shares or sell
the warrants.
How warrants are exercised:
Nominee-registered warrants (Custody
account)
Subscription and payment by exercise of warrants shall be made in
accordance with instructions from each nominee. Please contact your
nominee for additional information.
Direct-registered warrants (Securities
account)
No accounts for issuing nor any instructions regarding payments
will be sent out. Subscriptions will be made through simultaneous
payment in accordance with the instructions on the application
form.
The warrants will then be replaced by interim shares awaiting
registration at the Swedish Companies Registration Office.
The application form including instructions for
payment is available on Terranet´s website, www.terranet.se.
Advisers
Mangold Fondkommission AB is the financial
advisor and the issuing agent to Terranet AB in connection with the
exercise of series TO7 warrants. Eversheds Sutherland Advokatbyrå
AB is the legal advisor to the Company in connection with the
exercise of series TO7 warrants.
For more information, please
contact:
Magnus Andersson, CEO
E-mail: magnus.andersson@terranet.se
or
Dan Wahrenberg, CFO
E-mail: dan.wahrenberg@terranet.se
About Terranet AB (publ)
Terranet is on a mission to save lives in urban traffic.
We develop breakthrough tech solutions for
Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles
(AV) that protect vulnerable road users.
With a unique patented vision technology,
Terranet’s anti-collision system BlincVision laser scans and
detects road objects up to ten times faster and with higher
accuracy than any other ADAS technology available today.
Terranet is based in Lund, Sweden, and in the
heart of the European automotive industry in Stuttgart, Germany.
The company is listed on Nasdaq First North Premier Growth Market
since 2017 (Nasdaq: TERRNT B).
For more information, please visit Terranet´s
website www.terranet.se.
Certified Adviser to Terranet is Mangold
Fondkommission AB, ca@mangold.se.
- Styrelse och ledning nyttjar TO7 - Terranet ENG
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